銘柄情報

NTT UD REIT Investment Corporation

Complex-type REIT sponsored by five real estate, financial, and real estate management companies, namely, NTT Urban Development, Ken Corporation, Sohgoh Real Estate, Sumitomo Mitsui Trust Bank, and Nikko Properties, which targets offices and rental housing. The main feature of this REIT is that it ensures the yield of offices and the stability of residences. Its investment is concentrated mainly in the Tokyo economic zone.

  • Unit Price and Trading Volume 拡大

  • Unit Yield, Sector Average and Overall Average 拡大

2022/06/15Update

投資指標の計算式について

Investment amount per unit

Unitholders' capital / Number of investment units authorized

NAV per unit

((Unitholders' capital + Investment surplus) + (Portforio assets appraisal value - ortfolio assets book value) / Number of investment units authorized

P/NAV

Investment unit price / NAV per unit

FFO per unit

(Net income + depreciation + profit and loss on real estate) / Number of investment units authorized

P/FFO

Investment unit price / FFO per unit

NOI

Rental business income + depreciation

NOI yield

NOI / Portfolio assets book value

Implied cap rate

NOI / (Market capitalization + (Interest-bearing liabilities - cash on hand and in bank) + Security and guarantee deposits received

Market capitalization

Investment unit price * Number of investment units authorized

LTV

Interest-bearing liabilities / Total assets

DSCR

NOI / (Interest-bearing liabilities at end of previous period - Interest-bearing liabilities at end of current period + current interest expense)

EV / EBITDA

Market capitalization + (Interest-bearing liabilities - cash on hand and in bank) / NOI

Ratio of long-term fixed interest rate

Long-term fixed interest / Interest-bearing liabilities

Corporate Data

Investment Corporation Name NTT UD REIT Investment Corporation
Abbreviation
Securities code 8956(JPX)
Listing date 2002/09/10
Time elapsed 19.91 year
Closing months April / October
URL http://nud-reit.co.jp/
Unitholders' capital 132,638Million JPY
Number of investment units authorized 1,401,635Unit
Investment amount per unit 94,631JPY
Rating R&I:A+ / JCR:AA- 
Type of assets under management Complex-type REIT / Office Buildings:71.4% Residential Properties:28.6%
Management target regions
5 Central Wards of Tokyo:71.5% Other 18 Wards of Tokyo:20.7% Surrounding City Area:3.7% Regional City:4.0%
Number of investment properties 59
Number of tenants 3958
Total leasable floor space 282,587.00㎡

Investment Index Information

NAV per Unit 145,985JPY
Unit Price / NAV per Unit 1.03
FFO per Unit 6,780JPY
Unit Price / FFO per Unit 22.14
NOI Yield 4.87%
Implied Cap Rate 3.38%
Market capitalization 210,385Million JPY
Acquisition book value 272,632Million JPY
Term-end book value 234,988Million JPY
Appraisal value 300,174Million JPY
Interest-bearing liabilities 127,750Million JPY
LTV 45.46%
EV / EBITDA 27.53
Average maturity of borrowings 3.7year
Ratio of long-term fixed interest rate
Average occupancy rate 96.3%
Average age of buildings 23.1year

Investment Management Policies

  • Invests mainly in the metropolitan economic bloc (Tokyo's 23 wards, and more particularly the five central wards, and areas including the urban areas around Tokyo).
  • It mainly invests in real estate consisting of buildings primarily for office and residential purposes and their sites, and real estate trust beneficiary rights.
  • It aims for the office building/residential building ratio in investment value terms of 7:3.

Other Related Corporations

Asset Manager NTT UD REIT Investment Corporation
Update 2022/06/15 Capital 300Million JPY
Major Shareholders 100% NTT Urban Development Corporation Other Shareholders

Account Settlement InformationFY2022-4(Million JPY)

37th 38th 39th
(most recent)
40th forecast 41th forcast
Revised Date Revised Date
Operating revenue 11,468 10,738 12,589 10,435 10,452
Operating income 5,710 4,910 6,128 4,262 4,186
Ordinary income 5,300 4,473 5,682 3,829 3,757
Net income 5,299 4,470 5,681 3,827 3,756
Short-term borrowings 15,550 22,650 32,100
Long-term borrowings 99,750 92,650 84,450
Investment corporation bonds 11,200 11,200 11,200
Total assets 265,361 266,706 280,999
Net assets 126,412 125,583 139,431
Distribution per unit 4,024
JPY/per Unit
3,130
JPY/per Unit
4,054
JPY/per Unit
2,730
JPY/per Unit
2,680
JPY/per Unit

Other Affiliated Companies

Asset custodian Sumitomo Mitsui Trust Bank, Limited Accounting auditor PricewaterhouseCoopers Aarata
Accounting services Sumitomo Mitsui Trust Bank, Limited Unitholders registry administrator Sumitomo Mitsui Trust Bank, Limited
Tax administration services Sumitomo Mitsui Trust Bank, Limited Investment corporation bond administrator Sumitomo Mitsui Trust Bank, Limited
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